Crypto is a dangerous place right now.

Today was one of my worst days yet. I didn't anticipate the bitcoin pump, or the ethereum pump, and I was neck deep in alts traded against those two coins.

Today alone, I've lost over $4000, making this my first red day this year.

Why am I telling you this?

Because crypto is a dangerous place right now. I'm proof. At least it's dangerous if you're trading alts.

Now, this post isn't saying that you should go ahead and jump into the Forex without having any prior knowledge. That's equivalent to tossing your money into your fireplace, if you still have one of those.

What I'm saying is that if you have the knowledge or if you have a broker that can do it for you, trading the Forex is the best option for now.

Why?

Because of the COVID-19 pandemic occuring right now. You see, some countries have it worse than others. Therefore, they're locked in worse than other countries, and therefore their economies, and by extension their currencies suffer the brunt of it.

For some reason, the US Dollar doesn't have it as bad as other countries, despite being the country with the highest number of infections. 

So trading these weak currencies against the USD can lead to some massive moves. 

I personally caught one.

I traded the USD/ZAR pair with a standard lot size and 1:50 leverage. The rand has continually weakened against the US Dollar, leading to a whopping 10000 pip or $10000 movement for me. I closed half of my position at nearly 600% profit, and let the other one ride. You can see the chart below.

So while I'm really hurt on the crypto side, I'm walking on sunshine on the Forex side.

And this goes on to show that it's always great to have the knowledge of more than one market. I can personally trade stocks, crypto and the Forex, and make money off of moves on any of these markets.

So while I'm not saying that you should trade the Forex at all costs, if you can find a way around it, you should.

Remember that this doesn't constitute financial advice. DYOR!